Egypt likely to get 3rd tranche of IMF loan between December, January

Egypt's minister of finance, Amr Al-Garhy

17 July 2017 11:40 AM

Cairo – Mubasher: Egypt expects to receive the third $2 billion tranche of the International Monetary Fund’s (IMF) $12 billion loan between December 2016 and January 2017, the minister of finance, Amr Al-Garhy, told Reuters on Monday

Al-Garhy said that the next review will take place between November and December, while the third review will be between March and April 2017.

Egypt reached an agreement with the IMF in August 2016 on a loan of $12 billion over three years. The country received the first $2.75 billion tranche in November 2016.

In April, a mission from the IMF had visited Egypt to review the latest developments of the economic reform programme.